Asian demand for U.S. iron ore is driving up freight volumes on the St. Lawrence Seaway.
Overall cargo tonnage, including mining products and grain, rose by 8.5 per cent to 33 million tonnes on the water route as of the end of November, from the same period a year ago, the Chamber of Marine Commerce said on Thursday.
Shipments of iron ore pellets, which are used to make steel, rose by 34 per cent to 7.4 million tonnes as China secured raw materials to feed its manufacturing facilities. Demand was also aided by higher commodity prices, Canadian demand for domestic ore and U.S. tariffs that have spurred sales to U.S. mills on the lower Great Lakes. Continue Reading →